A Study on Knowledge Management Practises and its Challenges among the Blomming Companies

Traditional departments can serve as guardians of standards, but where the work gets done will not be possible. In words of Nonaka, “In an economy where the only certainty is uncertainty, the only source of lasting competitive advantage is knowledge. Successful companies are those that consistently create knowledge. In the knowledge - based view of the firm, an organisation's ability to create knowledge is a source of competitive advantage (Conner and Prahalad 1996). A theoretical study of knowledge management and its challenges and how this practice is done among the start-up firms is examined. A survey among 60 members of an e-commercial firm was conducted. Information when used wisely in the right time and at right place that becomes knowledge, and creating that is a work of learning and experience, how is that being done by the organisation, the challenges faced by them is the objective of the study.Appropriate statistical tools were implemented to study the practices that stand effective.